April 06, 2017

Representative Scott Tipton (R-Colo) has introduced the Prepaid Account Compliance and Extension Relief (PACER) Act of 2017 (H.R. 1801), which would delay the effective date of the Consumer Financial Protection Bureau's prepaid accounts rule until Oct. 1, 2018. Tipton's release said this rule would make it harder for consumers who need prepaid account products to access them. The rule was set to take effect on Oct. 1, 2017, but in March of this year, the CFPB proposed delaying the effective date by six months, until April 1, 2018.